The 5 most popular stories on Africa Private Equity News this week
Here are summaries of the five most widely read stories this week on Africa Private Equity News.
1. $21m investment in Ethiopian FMCG platform
Norfund and a consortium of private investors managed by 54 Capital announced a $21 million growth capital investment into Ethiopia’s largest FMCG platform SAMANU.
SAMANU is a platform company with well-established brands operating in Ethiopia’s main FMCG sub-sectors (Tena Edible Oils, 555 and Aura Soap & Detergents, and Chef Luca wheat products).
2. AfricInvest backs Nigerian retailer
AfricInvest has taken a minority stake in Justrite, a Nigerian family-owned retail department store chain. The company provides everyday essentials, such as groceries, confectionaries and clothing to consumers in largely underserved neighbourhoods.
Founded over 22 years ago by Aderinwale and Omoboye Fejeku, Justrite caters to consumers in the southwestern region of Nigeria with 17 stores across Lagos (Ikeja), Ogun (Abeokuta), and Osun State (Osogbo), with a combined shop floor exceeding 20,000 sqm and 57,000 stock keeping units (SKUs).
3. Amethis exits computer distributor
Private equity firm Amethis has completed its exit from the shareholding in Disway Tunisia, leaving the majority shareholder, Disway SA, with 100% control of the company.
Disway Tunisia operates as a wholesale distributor of computer hardware and software, with locations in Tunis, Sfax and Sousse, and a workforce of over 40 employees.
The company offers a wide range of international brands such as ASUS, Dell, HP, and Lenovo.
4. Ghana: Criterion Africa Partners in forestry deal
Criterion Africa Partners, a private equity firm investing across the forestry value chain in sub-Saharan Africa, has completed an investment of up to $17.1 million in Form Ghana, one of the largest reforestation companies in Africa.
Form Ghana owns and manages timber plantations in Berekum and Akumadan, both in Ghana, which are planted with 10,000 hectares of teak and indigenous trees and employ approximately 660 people. Form Ghana sells carbon credits and has recently started selling teak from thinning operations.
5. Affirma and StonePine in Egypt deal
Affirma Capital and StonePine ACE Partners have announced the closing of their $20 million investment to acquire a significant minority stake in Nerhadou International for Pharmaceuticals and Nutraceuticals, a nutraceutical and pharmaceutical player and oral dispersible film (ODF) manufacturer in Egypt.
Nerhadou has had strong growth over the past year, with an attractive product pipeline of innovative nutraceutical and pharmaceutical products in both ODF and conventional forms.